three, which is big for the base, big for people on fixed incomes, and it would not increase revenue. and it would cut what you're talking about, the possibility of job creation, because we're taking too much out of the economy. how could this be viewed as a win for the president? >> i don't think it would be a win. it's a win only relative to what the republicans are proposing. but if you save social security and medicare and medicaid, that's great. but if you take $2.7 trillion out of the economy, and if you do it soon, unfortunately, then you're going to have a tremendous problem. if you don't raise taxes on the rich, where are those cuts going too to come from? they're going to come from education, from infrastructure, from basic r&d. from all the things you need to grow the economy and create jobs. >> and of course, if we go back to the old tax rates, before the bush tax cuts, we would be looking at $4 trillion into the treasury over the next decade, is that correct? >> of course we would. look, i was very proud, i was a member of the clinton administration. we ended the clinton